The 10yr bond rates have been dropping! This is good news if you plan on locking in a mortgage rate soon.
The 10yr bond rates are what affect the 1st mortgage rates. North Carolina Mortgage rates were at 6.75% almost 1month ago, and now has dropped to 6.125%. Rates are still continuing to drop, and will probably flatten out to 5.875-6.0%. These rates normally include a 1% origination fee, and with 5% down.
The bad news will be if the FED 'lowers' the rate. This will build confidence in the US economy, and will drive up the stock market. When the stock market goes up no one wants to invest into bonds.
Mortgage Rates North Carolina